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STrue or False: The adjustment to long-run equilibrium occurs more quickly for competitive industries than for monopolists.uppose that a new entry has decreased your demand
STrue or False: The adjustment to long-run equilibrium occurs more quickly for competitive industries than for monopolists.uppose that a new entry has decreased your demand elasticity from -2 to -3 (made demand more elastic) and that your price, before the new entry, was $20. You should adjust your price to $ due to the new entry and decreased demand elasticity
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc Melitz
11th Edition
134519574, 9780134521046 , 978-0134519579
